The world’s biggest security firm G4S has agreed to repay $181 million plus tax to the British government after overcharging on a contract to monitor criminal offenders with electronic ankle bracelets. The settlement raises the prospect that a ban on new work could soon be lifted.

The repayment, much higher than the 24 million pounds G4S offered in November, came as the firm on Wednesday posted annual profit below market forecasts and outlined a raft of heavy charges.